- Ripple gains wider Singapore approval that expands its payment services for institutions.
- RLUSD receives Abu Dhabi recognition as an Accepted Fiat-Referenced Token for regulated use.
- Asia-Pacific on-chain activity rises 70% as Ripple strengthens its position in Singapore.
Ripple has received wider regulatory approval in Singapore while its RLUSD stablecoin gains new recognition in Abu Dhabi. The two approvals strengthen the company’s push to expand regulated digital payment services across Asia and the Middle East, and they support its plan to build faster and safer cross-border payment tools.
Broader License Supports Payment Network Growth
Ripple has obtained approval from the Monetary Authority of Singapore to widen the scope of services allowed under its Major Payment Institution license. The company said the added permissions will help it support banks and enterprises that need faster global payment systems.
Ripple President Monica Long said Singapore offers clear rules for digital assets, and she noted the firm will continue building in the country. Long said the broader license will help Ripple strengthen the infrastructure used by institutions moving money across borders.
Ripple Payments remains central to the company’s strategy. It links clients to on-ramps and off-ramps for collection, custody, conversion and payouts. The system uses XRP and RLUSD to settle transfers, and this reduces costs and settlement times for companies operating across markets.
RLUSD Gains Recognition in Abu Dhabi
The Financial Services Regulatory Authority in Abu Dhabi has approved Ripple’s RLUSD stablecoin as an Accepted Fiat-Referenced Token for use inside the Abu Dhabi Global Market. Licensed entities can use RLUSD for regulated activities when they meet rules on reserves, reporting and compliance.
This approval builds on Ripple’s recent progress in the United Arab Emirates, where the company has also gained regulatory clearance in Dubai and Abu Dhabi. It has formed partnerships with firms including Zand Bank and Mamo, and it has strengthened its custody tools through the purchase of Palisade.
Ripple Asia Pacific head Fiona Murray said regional on-chain activity has grown about 70% over the past year. She said Singapore remains at the center of this expansion, and she added that the new license will help the firm support institutions driving that rise.
